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Mortgage Market Update
My Mortgage Company
Adelina Hanson
Thursday, August 27, 2026
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How much equity do you have in your home? |
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Building equity is one of the quietest superpowers of homeownership. This week, I want to remind you that it's there, and you have options.
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National Mortgage Rates · August 20, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Home Equity
Your home is building wealth. Here's how to use it.
If you've owned your home for a few years, you likely have equity—the difference between what your home is worth and what you owe on it. That's real money, and it can work for you in several ways. Some homeowners tap into their equity for major expenses like renovations, education, or debt consolidation through a home equity line of credit or cash-out refinance. Others simply let it grow, treating their mortgage as forced savings. Either way, equity is one of the best reasons homeownership matters for your financial future. The key is knowing your options and being intentional about how you use them. If you're curious whether your equity could help you reach a goal right now, I'd love to walk through what's possible. Let's talk about what your equity might mean for your situation.
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Tip of the Week
Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.
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2.
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Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.
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3.
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Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Adelina Hanson
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